Archive for 'Bookkeeping'

Make Plans Now for Next Year’s Tax Return

Make Plans Now for Next Year’s Tax Return

Most people stop thinking about taxes after they file their tax return. But there’s no better time to start tax planning than right now. And it’s never too early to set up a smart record keeping system.

Here are six tips to help you start to plan for this year’s taxes:

Take action when life changes occur.

Some life events, like a change in marital status, the birth of a child or buying a home, can change ...

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Hire Your First Employee

Hire Your First Employee

 

If your business is booming, but you are struggling to keep up, perhaps it’s time to hire some help.

The eight steps below can help you start the hiring process and ensure you are compliant with key federal and state regulations.

Step 1. Obtain an Employer Identification Number (EIN)

Before hiring your first employee, you need to get an employment identification number (EIN) from the U.S. Internal Revenue Service. The EIN is often ...

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Why Should I Keep Records?

Why Should I Keep Records?

Everyone in business must keep records.  Keeping good records is very important to your business.  Good records will help you do the following:

  • Monitor the progress of your business
  • Prepare your financial statements
  • Identify source of receipts
  • Keep track of deductible expenses
  • Prepare your tax returns
  • Support items reported on tax returns

Monitor the progress of your business

You need good records to monitor ...

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